Sir Jim Ratcliffe, a chemical engineer, businessman, and billionaire from the United Kingdom, has acknowledged not paying a “stupid prize” as he prepares to take over Manchester United from the Glazers.
Ratcliffe and Qatar’s Sheikh Jassim bin Hamad Al Thani are the only two bidders who have made their offers to purchase the club public, although it is believed that many more have been made behind the scenes.
The Glazers are reportedly holding out for an offer of about £6 billion and have urged bidders to raise their offers following talks and a presentation at Old Trafford, according to sources who spoke with editors at www.atspo.com.
Sir Jim Ratcliffe, the CEO of INEOS, and his staff met with the takeover team last Friday while touring Old Trafford and the Carrington training facility.
Sheikh Jassim bin Hamad Al Thani and a group from Qatar, Ratcliffe’s main rivals for the club, are expected to make an improved offer on Wednesday, following their opening bid of £ 4.5 billion.
Ratcliffe, a Manchester United fan, has stated that he will not be pressured into paying an exorbitant price for the club, and he has admitted that his view of United will not be motivated by money, but rather by a desire to acquire a “community asset.”
The already-owner of French club Nice said in an interview with the Wall Street Journal that he was not willing to pay a stupid price to the Glazers for the acquisition of Manchester United since they are selling their ownership of the club.
Ratcliffe told the Wall Street Journal, “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.” Ratcliffe said, “What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
